Reynolds to be called as witness

FORMER Taoiseach Albert Reynolds is to be called as a witness before the Planning Tribunal next week to explain his role in an attempt to use an offshore company to buy land in north Dublin.

The inquiry has heard that Mr Reynolds, with solicitor Patrick Russell, were involved in a Guernsey-registered company called Universal Management Consultants (UMC) which tried to buy lands near Swords from a company called Rayband, which is under investigation by the tribunal.

Tribunal barrister Patricia Dillon SC said UMC showed interest in 1997 in acquiring the land as a joint venture with a Derry-based construction firm, O’Neill Brothers. Ultimately, the lands were not sold by Rayband.

In November 1988, Mr Reynolds and Mr Russell agreed to settle differences between UMC and the O’Neills by paying £350,000 to the firm, £20,000 to a Noel Gallagher and £20,000 to an unknown party.

The dispute was eventually only settled following the issuing of High Court proceedings.